MBNA Corp. has priced a $750 million issue of credit card-backed notes.

The issue went to market Friday with $637.5 million of senior notes priced at par with a coupon that floats 17 basis points above the one-month London interbank offered rate.

And $56.25 million of subordinate certificates were priced with a coupon that floats at 31 basis points above Libor. The issue also included $56.25 million of privately placed collateral invested certificates.

J.P. Morgan & Co. was lead underwriter.

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